Experts Financial News

Relative Strength Index (RSI). On November 3, Friday, StockEdge brought to light over 50 stocks that were on an upward trajectory, and we've selected five of them for a closer look.

Narendra Modi on Sunday announced that PMKAY would be extended to the end of December 2028. It was earlier set to end on December 31, 2023. The subsidy has been included in the overall food subsidy of around ₹197,350 crore provided in the 2023-24 budget, of which ₹95,149 crore or 48% has been used as of September, as per CGA data.

odd-even vehicle rationing scheme, a flagship measure of the Arvind Kejriwal-led Delhi government to tackle air pollution, will be reintroduced in the national capital from November 13-20. “We have taken a key decision to reintroduce the odd-even scheme from November 13. It will remain in effect for seven days," Delhi Environment Minister Gopal Rai said, while addressing the press.

India-Canada row: The ties between India and Canada have been strained after Canadian Prime Minister Justin Trudeau in September alleged the involvement of "agents of the Indian government" in the killing of Khalistani terrorist Hardeep Singh Nijjar in June this year. India on the other hand has rejected the claims and called the allegations as "absurd and motivated." Since then Ottawa and New Delhi announced tit-for-tat expulsions of diplomats in the wake of Trudeau's allegation of Indian involvement in Nijjar's killing. India also temporarily suspended the issuance of visas to Canadian citizens and asked Ottawa to downsize its diplomatic presence in the country to ensure parity.

BSE stocks that have delivered stellar return to its shareholders in 2023. In YTD time, this multibagger stock has risen from around ₹39 apiece to ₹135.65 per share levels on BSE, delivering to the tune of 250 per cent to its positional shareholders in this time.

Pradeep Rathod, CMD and Atul Parolia, CFO, Cello World in conversation with ET Now after listing on the bourses on Monday. Parolia says: “The main reason for our good ROC is that our bottom line is always very sound and that has given us an advantage in garnering ROCE of around 44%. Even in the future, it will be very good and definitely it will be above the peers.” Congratulations for listing on the bourses. Pradeep, let me ask you first; the revenue CAGR for FY21-23 is at around 30% or so. Do you expect this sort of a run rate or revenue growth rate to continue going ahead for Cello World? Pradeep Rathod: We just want to perform the way we have performed in the last three-four years. And going forward, our Glassware unit, which is coming up in Rajasthan, will also give extra revenue to the company. Overall, it looks really good to grow from here. Our product lines are expanding and we will grow at the pace we were growing over the last three-four years.

Golden Crossover, why it's an essential part of stock analysis, and highlight 5 stocks that have recently witnessed this game-changing pattern. The Golden Crossover is a powerful technical pattern used in stock market analysis. It occurs when a shorter-term moving average crosses above a longer-term moving average.

this massive pool are Power Grid, Shree Cements and Info Edge. Here's a brief look at what to expect from these companies in Q2: Power Grid Analysts expect revenues to see a marginal decline due to lower contributions from the consultancy segment and the prior period income of Rs 410 crore. Revenue from operations is seen falling 0.5% to Rs 11,055 crore in the second quarter, according to Kotak Equities. Meanwhile, the net profit will likely rise 25% to Rs 4,178 crore.

Bharat Forge on Monday reported a 29% year-on-year (YoY) growth in net profit for the quarter ended September to Rs 346 crore, driven by a strong topline and operational performance. Revenue from operations grew by nearly 21% to Rs 2,249 crore, driven by a 21% growth each in exports and domestic revenue. The quarter saw stellar performance on the exports front, with passenger vehicle (PV) exports growing 39% YoY.

Havells India Ltd. fell 0.26 per cent to Rs 1268.15 in Monday's trade as of 01:49PM (IST) even as the benchmark Nifty ruled at 19360.45, up 129.85 points. The scrip had closed at Rs 1271.55 in the previous session.

Mahavir Lunawat, MD of Pantomath Capital Advisors believes India's economic resilience and its attractiveness as an investment hub are causing a strong influx of IPOs. In an interview with Mint, Lunawat said the IPO trend will continue in H2 2024, with a strong pipeline of over $9 billion. Edited excerpts: Compared to most of the other major economies, India stands out distinctly as one of the bright spots in the world today.

Multibagger stock: South West Pinnacle Exploration shares are one of those stocks in Indian stock market that has delivered stellar return to its shareholders in post-Covid rebound. In last three and half years, this stock has risen from around ₹12 apiece levels to ₹184.20 per share levels, delivering to the tune of 1,450 per cent return to those who did bottom fishing during Covid-19 sell off. However, it seems that South West Pinnacle Exploration share price still has some steam left.

Ashok Sonthalia, CFO, Titan Company, says “the mid premium, premium, high value segments are showing very good traction, good demand and growth rates are very high in those segments. The growth in consumer numbers is also high. Entry level demand is a little bit dull still. I would say the whole discretionary aspect at the entry price point, the target segment of consumer is yet to see the whole thing panning out, but early signs are very good and we are very positive about Q3 and Q4 shaping up.” Well, the festive season this time is falling in Q3 versus Q2 that we had seen last year. But so far, given that we are halfway through the festive season, what is the demand looking like? Are you seeing that festive cheer and festive mood in the consumer sentiment as well? Yes, from last year, the start period had shifted to Q3 and so the first 15 days were slightly slower and even gold prices have become volatile because of the geopolitical situation outside India.

Colgate-Palmolive (India) Ltd. rose 0.52 per cent to Rs 2115.0 in Monday's trade. It hit an intraday high of Rs 2117.55 and low of Rs 2087.1, respectively, during the day.

BJP's defeat in Lok Sabha elections might lead to 25% drop in stock market, says Jefferies Wood is positive about the real estate sector as he pointed out that the property upturn has not waned despite monetary tightening and they have the steam left for the next four to five years. (Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) Also Read: Chris Wood's Greed and Fear explains why PSU banks are outperforming private lenders He said investors should buy both - property and property stocks.

smallcap stocks including Suzlon Energy, Kalyan Jewellers, KEI Industries and the newly-listed JSW Infra can get upgraded to midcap status. Calculations done by Nuvama show that the remaining 10 stocks waiting to enter the midcap universe are Mazagon Dock, Lloyds Metal, SJVN, CreditAccess Grameen, Emami, Exide Industries, Ajanta Pharma, Glenmark Pharma, Nippon Life and Fivestar Business. Suzlon, the stock of which has rallied over 300% in the last 6 months, is also seen entering the MSCI India Standard Index in its quarterly review on 14th November. Stocks which can get downgraded from midcap to smallcap are Rajesh Exports, Aarti Industries, Pfizer, Vinati Organics, Crompton Greaves, Bharat Dynamics, Atul, Navin Fluorine, Whirlpool, Laurus Labs, Sumitomo Chemicals, Aditya Birla Fashion, Bata India and Kajaria Ceramics. The mutual fund body will announce a reshuffle in the first week of January 2024 and will be applicable from February to July 2024. «The change in categorization doesn’t lead to incremental inflows or outflow. The active mutual fund managers keep an eye on the list while taking fresh/modifying positions in stocks in different categories of schemes,» Nuvama said. Stocks which can move from largecap to midcap are, UPL, Adani Wilmar, IRCTC, PI Industries, Bosch, Tube Investments, Hero Motocorp and Samvardhana Motherson. On the other hand, Nuvama sees IRFC, Power Fin Corp, Polycab Macrotech, Shriram Finance, Union Bank, Indian Overseas Bank, REC Ltd and Jio Financial getting largecap status. AMFI categorises stocks on the basis of its 6-month average market capitalisation.

PI Industries Ltd. traded 0.69 per cent down at Rs 3465.65 at 01:24PM (IST) on Monday, even as BSE benchmark Sensex gained 410.95 points to 64774.73.

Crompton Greaves Consumer Electricals Ltd. fell 0.69 per cent to Rs 284.4 at 01:19PM hours (IST) on Monday. Earlier in the day, the stock saw a gap down start to the session.

Varun Beverages on Monday reported robust earnings for the quarter ended September, with the consolidated net profit rising nearly 32% year-on-year (YoY) to Rs 501 crore, on the back of strong topline and operational performance. Consolidated revenue, net of excise duty, grew by nearly 22% YoY to Rs 3,871 crore, led by a healthy growth in volumes and realisations. Despite the strong earnings growth, the stock wiped the gains and fell 0.7% to Rs 946.10 due to profit-booking. Ahead of the earnings, the stock had touched a one-month high of Rs 965.70. Consolidated sales volumes grew by 15.4% in the third quarter of the calendar year to 220 million cases, led by a double-digit growth in both Indian and international markets, the company said. Varun Beverages, which is PepsiCo’s second-largest franchisee outside the US, follows the calendar year. Net realization increased by 5.6% to Rs 176.3 per case, driven by an increase in realization per case primarily in the international markets. Operating profit, calculated as earnings before interest, taxes, depreciation, and amortisation (EBITDA), increased by 26% on year to Rs 882 crore. Gross margins improved by 163 bps to 55.3% in the quarter, primarily due to the softening of PET chip prices.

Siemens Ltd. slipped 0.47 per cent to Rs 3348.2 in Monday's trade as of 01:14PM (IST). The stock hit a high price of Rs 3374.15 and low of Rs 3347.65 during the session.

ESAF Small Finance Bank The public offer of ESAF Small Finance Bank (SFB) was booked 5x on the second day of the bidding process. The issue closes on Tuesday. The NII category was subscribed the most at 10.76x, followed by retail investors at 5.12x.